CRYPTOCURRENCIES AND ITS LEGAL REGULATION AROUND THE WORLD
Journal Title: Юридичний науковий електронний журнал - Year 2017, Vol 6, Issue
Abstract
The article is devoted to the study of legal regulation of cryptocurrency in the world. It has been determined that cryptocurrency are traditionally called electronic currencies, the account of operations with which occurs decentralized on the basis of pre-established rules (protocol) without the involvement of external administration; some main features of cryptocurrency are indicated on the basis of this concept. It has been established that the administration of cryptocurrency and state’s control will have a number of positive aspects (a stability of cryptocurrency’s market, some additional state guarantees, cessation of laundering capital, which is obtained illicitly) and will not affect the essence of the concept. It is proposed to change the approach to decentralization of cryptovolume from the other side. There are a great amount of cryptocurrency in the world. It has some negative influence in cryptomarket. Almost all cryptocurrensies connected with each other, so the fallen of, for example, bitcoin can lead to fallen of some others. All cryptocurrencies have different ways of stability and guaranties. Moreover, the question of ICO is still opened because in this sphere there is no legal regulation, just some the customs of business turnover. So, humans rights is not protected. It can lead to the lowering of the level of trust to the state and its functions. The article also analyzes the problems of taxation of cryptocurrency in the world. Tax police and other tax structures haven’t any good mechanism to control taxes of people and organizations.
Authors and Affiliations
К. Р. Шаповалова
Keywords
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